Gas Assets Acquisition

Centrica PLC
22 November 2001


22 November 2001



Centrica adds to its offshore gas assets



Centrica plc has today announced that the company has entered into four
agreements to acquire further interests in offshore assets in the North Sea
and Irish Sea.

The agreements have been reached with Innogy, Amerada Hess, Kerr-McGee and
Burlington, for a total consideration of £62.3 million and are expected to
complete in 2001. These deals add more than 110 bcf of gas and 2.1 m barrels
of oil to Centrica's portfolio. It is forecast that there will be future
capital expenditure relating to the assets of around £40 million.

The largest of the acquisitions is the purchase of Innogy's 6.97 per cent
interest in the Armada field. The other agreements are with Amerada Hess for
its interest in the Amethyst field and related interests including the Rose
development, and with Kerr-McGee and Burlington for interests in block 110/3c
in the East Irish Sea.

Following these acquisitions, Centrica's interest in these fields will be:

Armada     6.97%

Rose        27% (estimated)

Romeo     37.5%

Amethyst  8.95%

110/3c    52.8%

Jake Ulrich, Managing Director of Centrica Energy Management Group said:
'These acquisitions are in line with our strategy of securing upstream assets
that provide a good fit with our existing assets and gas supply portfolio.'





Enquiries:

Centrica Media Relations:          01753 494085

Centrica Investor Relations:       01753 494900



Notes to editors:

 1. Field purchases are as follows:

      + Innogy's 6.97 per cent interest in Armada
      + Amerada Hess's 6.48 per cent interest in Amethyst and related North
        Sea fields (40 per cent interest in block 47/14b (Rose) and 37.5%
        interest in block 47/15b (Romeo))
      + Burlington's 4.3 per cent interest in block 110/3c
      + 31.2 per cent of Kerr-McGee's interest in block 110/3c

 1. Centrica already has a 17.3 per cent interest in 110/3c which is located in
    the East Irish Sea and a 2.47 per cent interest in Amethyst